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Sanofi India MD, chairman, board of directors and AGM

NSE: SANOFIBSE: 500674Pharmaceuticals & BiotechnologySmall Cap

Formerly Aventis Pharma
Last close ₹2,772.80down ₹58.30 (2.06%)BSE ₹2,775.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹2,831.10.

52-week range of traded prices to 23 Oct 2026
₹2,758.20Low, 23 Oct 2026₹4,898.00High, 29 Oct 2025
Market cap
₹6,386 Cr614th largest listed
P/E
19.7
P/B
7.7
Dividend yield
4.44%
ROE
40.3%
ROCE
54.0%
Debt to equity
0.00
Volume, NSE
21,04355.0% delivered

Sanofi India board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonRahul Bhatnagar
  • Managing directorDeepak Arora
  • Company Secretary and Compliance OfficerHaresh Vala

8 directors3 independent3 executive2 non-executive

  • Rahul Bhatnagar · ChairpersonIndependent · joined Jul 2020 · reappointed Jul 2025 · 74 months as independent · 5 listed boards · 5 as independent · 4 committee seats, 4 as chair
  • Rajani KesariIndependent · joined Apr 2026 · reappointed Apr 2026 · 6 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 3 as chair
  • Siraj ChaudhryIndependent · joined Apr 2026 · reappointed Apr 2026 · 6 months as independent · 4 listed boards · 4 as independent · 7 committee seats, 2 as chair
  • Deepak Arora · Managing directorExecutive · joined Oct 2025 · 1 listed board · 1 committee seat
  • Vaibhav KarandikarNon-executive · joined Dec 2023 · 1 listed board · 1 committee seat
  • Eric MansionNon-executive · joined Jun 2024 · 1 listed board
  • Sudipta ChakrabortyExecutive · joined Mar 2026 · 1 listed board
  • Mahadev GawadeExecutive · joined Aug 2025 · 1 listed board

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

5 directors who left
  • Rachid Ayari, left 30 Sep 2026: Others
  • Aditya Narayan, left 29 Apr 2026: Tenure Completion
  • Usha Thorat, left 29 Apr 2026: Tenure Completion
  • Rodolfo Hrosz, left 28 Feb 2026: Others
  • RENEE VISWONATH AMONKAR, left 11 Aug 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 4 Aug 20267 of 9 present3 independent · 97 days in between
    • 28 Apr 20269 of 11 present5 independent

  • Audit Committee

    Chair Rajani Kesari

    Siraj Chaudhry, Vaibhav Karandikar

    • 4 Aug 20263 of 3 present2 independent · 97 days in between
    • 28 Apr 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Siraj Chaudhry

    Rajani Kesari, Eric Mansion

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair Siraj Chaudhry

    Deepak Arora

    • 4 Aug 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Rajani Kesari

    Mahadev Gawade, Deepak Arora, Siraj Chaudhry

    • 4 Aug 20265 of 5 present2 independent

  • Corporate Social Responsibility Committee

    Chair Siraj Chaudhry

    Deepak Arora, Rajani Kesari

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Sanofi India AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Sanofi India dividend history

Annual general meeting, 29 Apr 2026

80,754 shareholders on the register on 22 Apr 2026; present: 2 promoters and 70 others; votes counted by Sunny Gogiya / M/s. SGGS and Associates, Practising Company Secretaries.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Annual Audited Financial Statements of the Company for the financial year ended December 31, 2025 including the Balance Sheet as at December 31, 2025, the Statement of Profit and Loss and the Cash Flow Statement for the financial year ended on that date and Reports of Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.45%

    Turnout: all 85.49% · promoters 100.00% · institutions 95.40% · other public 0.27%

  2. To confirm the payment of interim dividend of Rs.75 per equity share of Rs.10 each and to declare a final dividend of Rs.48 per equity share of Rs.10 each for the financial year ended December 31, 2025MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.22%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  3. To re-appoint Mr. Vaibhav Karandikar (DIN: 09049375), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    97.83% for2.17% against

    Against: promoters 0.00% · institutions 7.36% · other public 28.68%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  4. To re-appoint Mr. Eric Mansion (DIN: 10654588), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.90% for1.10% against

    Against: promoters 0.00% · institutions 3.72% · other public 28.93%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  5. Appointment of Ms. Sudipta Chakraborty (DIN:07166912) as a Director of the Company
    Ordinary
    99.56% for0.44% against

    Against: promoters 0.00% · institutions 1.46% · other public 28.17%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  6. Appointment of Ms. Sudipta Chakraborty (DIN: 07166912) as the Whole-time Director of the Company
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.23% · other public 28.72%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  7. Appointment of Ms. Rajani Kesari (DIN: 02384170) as an Independent Director for a term of 5 (five) consecutive years from April 1, 2026 to March 31, 2031
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 29.02%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  8. Appointment of Mr. Siraj Azmat Chaudhry (DIN: 00161853) as an Independent Director for a term of 5 (five) consecutive years from April 1, 2026 to March 31, 2031.
    Special
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.08% · other public 29.23%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

  9. Approval of Material Related Party Transactions with Sanofi-Aventis Singapore Pte. Limited
    OrdinaryPromoters have an interest in it
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.18% · other public 1.68%

    Turnout: all 25.11% · promoters 0.00% · institutions 95.46% · other public 0.27%

  10. Approval of Material Related Party Transactions with Sanofi Healthcare India Private Limited
    OrdinaryPromoters have an interest in it
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.18% · other public 1.47%

    Turnout: all 25.11% · promoters 0.00% · institutions 95.46% · other public 0.27%

  11. Ratification of remuneration payable to the Cost Auditors of the Company for the financial year ending December 31, 2026.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 24.23%

    Turnout: all 85.50% · promoters 100.00% · institutions 95.46% · other public 0.27%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 17 Dec 2025, 2 resolutions

77,202 shareholders on the register on 14 Nov 2025; votes counted by Gaurav Sainani / M/s. SGGS & Associates, Practicing Company Secretaries.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Deepak Arora (DIN: 07495638) as a Director of the Company
    Ordinary
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 0.39% · other public 10.82%

    Turnout: all 86.74% · promoters 100.00% · institutions 95.43% · other public 2.62%

  2. Appointment of Mr. Deepak Arora (DIN: 07495638) as the Managing Director of the Company
    Ordinary
    94.70% for5.30% against

    Against: promoters 0.00% · institutions 17.53% · other public 10.91%

    Turnout: all 86.74% · promoters 100.00% · institutions 95.43% · other public 2.62%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 11 Sep 2025, 3 resolutions

69,487 shareholders on the register on 6 Aug 2025; votes counted by Gaurav Sainani / M/s. SGGS & Associates, Practicing Company Secretaries.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Rachid Ayari (DIN: 10408699) as the Interim Managing Director of the Company
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.07% · other public 3.59%

    Turnout: all 87.82% · promoters 100.00% · institutions 95.42% · other public 2.49%

  2. Appointment of Mr. Mahadev Gawade (DIN: 11231316) as a Director of the Company
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.55% · other public 3.59%

    Turnout: all 87.82% · promoters 100.00% · institutions 95.42% · other public 2.49%

  3. Appointment of Mr. Mahadev Gawade (DIN: 11231316) as a Whole-time Director of the Company
    Ordinary
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.39% · other public 3.73%

    Turnout: all 87.82% · promoters 100.00% · institutions 95.42% · other public 2.49%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 15 May 2025, 8 resolutions

69,842 shareholders on the register on 8 May 2025; present: 2 promoters and 74 others; votes counted by Gaurav Sainani / SGGS & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Annual Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended December 31, 2024 including the Balance Sheet as at December 31, 2024, the Statement of Profit and Loss and the Cash Flow Statement for the Financial Year ended on that date and Reports of Board of Directors and Auditors thereonMoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 31.52%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

  2. To declare a final dividend of Rs. 117/- per equity share of Rs. 10 each for the Financial Year ended December 31, 2024
    Ordinary
    100.00% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 28.68%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

  3. To re-appoint Ms. Renee Amonkar (DIN: 10335917), who retires by rotation and being eligible, offers herself for re-appointment
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.44% · other public 42.16%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

  4. To re-appoint Mr. Rachid Ayari (DIN: 10408699), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.60% · other public 42.16%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

  5. Re-appointment of Mr. Rahul Bhatnagar (DIN: 07268064) as Independent Director for a second term of five consecutive years from July 29, 2025 to July 28, 2030
    Special
    99.71% for0.29% against

    Against: promoters 0.00% · institutions 0.90% · other public 32.37%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

  6. Re-designation of Mr. Rodolfo Hrosz (DIN: 09609832) as Non-Executive Director of the Company
    Ordinary
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.29% · other public 32.94%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

  7. Appointment of M/s. Parikh and Associates, Company Secretaries, as the Secretarial Auditor of the Company for a term of five consecutive years from the financial year 2025 to the financial year 2029
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 32.08%

    Turnout: all 87.75% · promoters 100.00% · institutions 95.66% · other public 0.14%

  8. Ratification of remunerable payable to the Cost Auditors of the Company for the Financial Year ending December 31, 2025
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 32.08%

    Turnout: all 87.84% · promoters 100.00% · institutions 95.99% · other public 0.14%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 8 Aug 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Appointment of Mr. Eric Mansion (DIN: 10654588) as a Non-Executive Director of the Company
    Ordinary
    99.74% for0.26% against

    Against: promoters 0.00% · institutions 0.88% · other public 0.25%

    Turnout: all 87.60% · promoters 100.00% · institutions 94.23% · other public 13.93%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 14 May 2024, 5 resolutions

Present: 2 promoters and 55 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Annual Audited Financial Statements (Standalone and Consolidated) of the Company for the year ended December 31, 2023 including the Balance Sheet as on December 31, 2023, the Statement of Profit and Loss and the Cash Flow Statement for the Financial Year ended on that date and Reports of Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 87.87% · promoters 100.00% · institutions 93.79% · other public 15.04%

  2. (a) To confirm the payment of Interim Dividend of ₹ 50 per equity share of ₹ 10 each for the Financial Year ended December 31, 2023. (b) To declare a final dividend of ₹ 117 per equity share of ₹ 10 each for the Financial Year ended December 31, 2023MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 87.92% · promoters 100.00% · institutions 93.96% · other public 15.04%

  3. To re-appoint Mr. Vaibhav Karandikar (DIN: 09049375), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.67% for1.33% against

    Against: promoters 0.00% · institutions 4.56% · other public 0.07%

    Turnout: all 87.92% · promoters 100.00% · institutions 93.96% · other public 15.04%

  4. To re-appoint Mr. Rodolfo Hrosz (DIN: 09609832), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.59% · other public 0.03%

    Turnout: all 87.92% · promoters 100.00% · institutions 93.96% · other public 15.04%

  5. Ratification of remuneration to Cost Auditors.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 87.92% · promoters 100.00% · institutions 93.96% · other public 15.04%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 13 Feb 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Appointment of Mr. Rachid Ayari (DIN: 10408699) as a Director of the Company
    Ordinary
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 1.06% · other public 0.10%

    Turnout: all 87.62% · promoters 99.97% · institutions 93.05% · other public 14.59%

  2. Appointment of Mr. Rachid Ayari (DIN: 10408699) as a Whole-time Director and Chief Financial Officer of the Company
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.18% · other public 0.10%

    Turnout: all 87.62% · promoters 99.97% · institutions 93.05% · other public 14.59%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Meeting called by the tribunal, 18 Dec 2023, 1 resolution

Present: 2 promoters and 38 others.The company's voting result (opens in a new tab)

  1. To approve, with or without modification(s), the scheme of arrangement (“Scheme”) between and amongst nSanofi India Limited and Sanofi Consumer Healthcare Limited and their respective shareholders and creditors nin terms of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.MoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 87.55% · promoters 100.00% · institutions 92.86% · other public 13.90%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 29 Apr 2026, 10 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the Annual Audited Financial Statements of the Company for the financial year ended December 31, 2025 including the Balance Sheet as at December 31, 2025, the Statement of Profit and Loss and the Cash Flow Statement for the financial year ended on that date and Reports of Board of Directors and Auditors thereon.MoreLess
    10 for0 against
  • To confirm the payment of interim dividend of Rs.75 per equity share of Rs.10 each and to declare a final dividend of Rs.48 per equity share of Rs.10 each for the financial year ended December 31, 2025MoreLess
    10 for0 against
  • To re-appoint Mr. Vaibhav Karandikar (DIN: 09049375), who retires by rotation and being eligible, offers himself for re-appointment.
    10 for0 against
  • To re-appoint Mr. Eric Mansion (DIN: 10654588), who retires by rotation and being eligible, offers himself for re-appointment.
    10 for0 against
  • Appointment of Ms. Sudipta Chakraborty (DIN:07166912) as a Director of the Company
    10 for0 against
  • Appointment of Ms. Sudipta Chakraborty (DIN: 07166912) as the Whole-time Director of the Company
    10 for0 against
  • Appointment of Ms. Rajani Kesari (DIN: 02384170) as an Independent Director for a term of 5 (five) consecutive years from April 1, 2026 to March 31, 2031
    10 for0 against
  • Appointment of Mr. Siraj Azmat Chaudhry (DIN: 00161853) as an Independent Director for a term of 5 (five) consecutive years from April 1, 2026 to March 31, 2031.
    10 for0 against
  • Approval of Material Related Party Transactions with Sanofi-Aventis Singapore Pte. Limited
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance and Transparency concern: Basis of arms-length pricing not disclosed adequately.
    9 for1 against
  • Approval of Material Related Party Transactions with Sanofi Healthcare India Private Limited
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance and Transparency concern: Basis of arms-length pricing not disclosed adequately; and inadequate justification for the significant shift between the quantum of actual transactions occurred during FY 2025 compared with proposed quantum of transactions for FY 2026 with the proposed party.
    9 for1 against
  • Ratification of remuneration payable to the Cost Auditors of the Company for the financial year ending December 31, 2026.
    9 for0 against
1 proposal not matched to one resolution
  • Ratify remuneration of Rs. 460,000 to Kishore Bhatia & Associates as cost auditors for 2026
    1 for0 against

Mutual fund votes, meeting of 17 Dec 2025, 14 fund houses

  • Appointment of Mr. Deepak Arora (DIN: 07495638) as a Director of the Company
    14 for0 against
  • Appointment of Mr. Deepak Arora (DIN: 07495638) as the Managing Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Sundaram Mutual Fund
    • Angel One Mutual FundGovernance Concern: The Company has not provided any cap on the number of ESOPs that may be granted to the Director; the power to grant ESOPs lies on the Ultimate Holding Company, while the cost for such grants are borne by the Company. In such a case, the Company should provide a cap as to the number of ESOPs that may be granted during the year. It will allow for a better estimation on the total benefit that may be attributed to the Director.
    • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. Governance Concern: The Company has not provided any cap on the number of Options that may be granted to the Director; the power to grant options lies on the Ultimate Holding Company, while the cost for such grants are borne by the Company. In such a case, the Company should provide a cap as to the number of Options that may be granted during the year. It will allow for a better estimation on the total benefit that may be attributed to the Director.
    • Baroda BNP Paribas Mutual FundThere is no cap on maximum ESOP that may be granted by holding company at their discretion, where the cost of ESOP shall be borne by Sanofi India, hence voted against. When the onus to bear such cost falls on the Company, the proposed Stock Option benefit should come with a limit / cap. A cap would allow the shareholders to estimate the total options / benefit that may be attributed to Mr. Arora during the year / tenure.
    • ICICI Prudential Mutual FundThe AMC has decided to vote against in the absence of adequate disclosures
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundGovernance Concern: No annual cap on options grantable to the Director, despite Ultimate Holding Company's grant power and Company-borne costs—prevents estimating total benefit/dilution, breaching SEBI SBEB disclosure requirements on total shares available and individual limits.
    • quant Mutual FundCompliant with the law. Governance concern: The company has not provided any cap on the number of options that may be granted to the Director; the power to grant options lies on the ultimate holding company, while the cost for such grants are borne by Sanofi India Ltd. In such a case, the number of options that may be granted during the year should have been capped, which would allow for an estimation on the total benefit that may be attributable to the Director. Hence, we vote against the resolution.
    • Sundaram Mutual FundWe estimate Deepak Arora’s annual remuneration to be in the range of Rs. 34.0 – Rs. 40.8 mn (excluding stock options that may be granted). Sanofi India does not have a scheme for grant of stock options. However, the Managing Director, Whole time Directors and some Senior Executives are granted stock options/performance shares of the ultimate holding company, Sanofi S.A. Under the proposed remuneration terms, no disclosure has been provided with respect to stock options. We believe the company should disclose the quantum of stock options, if any, proposed to be granted to directors over their tenure. In the absence of such disclosure, we are unable to support the resolution.
    5 for9 against
6 earlier meetings

Mutual fund votes, meeting of 11 Sep 2025, 14 fund houses

  • Appointment of Mr. Rachid Ayari (DIN: 10408699) as the Interim Managing Director of the Company
    14 for0 against
  • Appointment of Mr. Mahadev Gawade (DIN: 11231316) as a Director of the Company
    14 for0 against
  • Appointment of Mr. Mahadev Gawade (DIN: 11231316) as a Whole-time Director of the Company
    Against Mirae Asset Mutual Fund, Sundaram Mutual Fund
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Sundaram Mutual FundMahadev Gawade, 46, was appointed as Site Head (Manufacturing & Supply) of the company’s Goa manufacturing facility in August 2025. He has 20 years of experience in logistics and pharmaceutical manufacturing, having worked with leading large-scale organizations and managed multiple global regulatory inspections (US FDA, EU GMP). We estimate Mahadev Gawade’s annual remuneration to be in the range of Rs. 14.9 – Rs. 16.9 mn (excluding stock options that may be granted). Sanofi India does not have a scheme for grant of stock options. However, the Managing Director, Whole time Directors and some Senior Executives of the company are granted stock options/performance shares of the ultimate holding company, Sanofi S.A. Under the proposed remuneration terms, no disclosure has been provided with respect to stock options. We believe the company should disclose the quantum of stock options, if any, proposed to be granted to directors over their tenure. In the absence of such disclosure, we are unable to make a reasonable estimate of the total proposed remuneration. The company must cap the remuneration in absolute terms. While we support his appointment, we are unable to support the resolution given the lack of clarity about the remuneration terms. We do not support the resolution.
    12 for2 against

Mutual fund votes, meeting of 15 May 2025, 15 fund houses

  • To receive, consider and adopt the Annual Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended December 31, 2024 including the Balance Sheet as at December 31, 2024, the Statement of Profit and Loss and the Cash Flow Statement for the Financial Year ended on that date and Reports of Board of Directors and Auditors thereonMoreLess
    15 for0 against
  • To declare a final dividend of Rs. 117/- per equity share of Rs. 10 each for the Financial Year ended December 31, 2024
    15 for0 against
  • To re-appoint Ms. Renee Amonkar (DIN: 10335917), who retires by rotation and being eligible, offers herself for re-appointment
    15 for0 against
  • To re-appoint Mr. Rachid Ayari (DIN: 10408699), who retires by rotation and being eligible, offers himself for re-appointment
    15 for0 against
  • Re-appointment of Mr. Rahul Bhatnagar (DIN: 07268064) as Independent Director for a second term of five consecutive years from July 29, 2025 to July 28, 2030
    15 for0 against
  • Re-designation of Mr. Rodolfo Hrosz (DIN: 09609832) as Non-Executive Director of the Company
    15 for0 against
  • Appointment of M/s. Parikh and Associates, Company Secretaries, as the Secretarial Auditor of the Company for a term of five consecutive years from the financial year 2025 to the financial year 2029
    15 for0 against
  • Ratification of remunerable payable to the Cost Auditors of the Company for the Financial Year ending December 31, 2025
    15 for0 against

Mutual fund votes, meeting of 8 Aug 2024, 18 fund houses

  • Appointment of Mr. Eric Mansion (DIN: 10654588) as a Non-Executive Director of the Company
    18 for0 against

Mutual fund votes, meeting of 14 May 2024, 18 fund houses

  • To receive, consider and adopt the Annual Audited Financial Statements (Standalone and Consolidated) of the Company for the year ended December 31, 2023 including the Balance Sheet as on December 31, 2023, the Statement of Profit and Loss and the Cash Flow Statement for the Financial Year ended on that date and Reports of Board of Directors and Auditors thereon.MoreLess
    18 for0 against
  • (a) To confirm the payment of Interim Dividend of ₹ 50 per equity share of ₹ 10 each for the Financial Year ended December 31, 2023. (b) To declare a final dividend of ₹ 117 per equity share of ₹ 10 each for the Financial Year ended December 31, 2023MoreLess
    18 for0 against
  • To re-appoint Mr. Vaibhav Karandikar (DIN: 09049375), who retires by rotation and being eligible, offers himself for re-appointment.
    18 for0 against
  • To re-appoint Mr. Rodolfo Hrosz (DIN: 09609832), who retires by rotation and being eligible, offers himself for re-appointment.
    18 for0 against
  • Ratification of remuneration to Cost Auditors.
    18 for0 against

Mutual fund votes, meeting of 13 Feb 2024, 21 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Appointment of Mr. Rachid Ayari (DIN: 10408699) as a Director of the Company
    16 for0 against
  • Appointment of Mr. Rachid Ayari (DIN: 10408699) as a Whole-time Director and Chief Financial Officer of the Company
    16 for0 against
6 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • 1) Appoint Rachid Ayari (DIN: 10408699) as Director from 1 December 2023, liable to retire by rotation.
    1 for0 against
  • 2) Appoint Rachid Ayari (DIN: 10408699) as Whole-Time Director and CFO for three years from 1 December 2023 to 30 November 2026 and fix his remuneration.
    1 for0 against
  • Appoint Rachid Ayari (DIN: 10408699) as Director from 1 December 2023, liable to retire by rotation
    3 for0 against
  • Appoint Rachid Ayari (DIN: 10408699) as Whole-Time Director and CFO for three years from 1 December 2023 to 30 November 2026 and fix his remuneration
    3 for0 against

Mutual fund votes, meeting of 18 Dec 2023, 18 fund houses

  • To approve, with or without modification(s), the scheme of arrangement (“Scheme”) between and amongst nSanofi India Limited and Sanofi Consumer Healthcare Limited and their respective shareholders and creditors nin terms of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.MoreLess
    18 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeComm. Of Income Tax - 18, MumbaiSince 22 Sep 2026
    Matter resolved
    At the filing before: Order received in favour of the Company as on 22.09.2026
  • Tax disputeACIT (TDS)Since 3 Sep 2026
    Appeal filed by the tax department with the Income Tax Tribunal
    At the filing before: CIT(A) ruled in favour of the Company & Department filed appeal with ITAT
  • Tax disputeACIT 3(1)(1)Since 15 Sep 2026
    The Hon’ble Court has provided ad-interim relief & stayed the proceedings u/s 148 till the next hearing fixed on 19.10.2026
    At the filing before: Company is in the process of filing the appeal with High court
  • Tax disputeSuperintendent, CGST Range V, Division-IV, GoaSince 11 Mar 2026
    Appeal filed
  • Tax disputeState Tax Officer, Thiruvallur Assessment Circle, Tamil NaduSince 21 Sep 2026
    The SCN for FY 2023-24 proposing a total demand of ₹32,13,171/- plus interest and Rs.50,000 penalty, has been withdrawn and dropped in full by the State Tax Officer, Thiruvallur Assessment Circle.
    At the filing before: The SCN for FY 2023-24 proposing a total demand of ₹32,13,171/- plus interest and Rs.50,000 penalty
  • Tax disputeCommissioner (Appeals), CGST & Customs, GoaSince 24 Sep 2026
    The Commissioner held that the finding of the adjudicating authority that the appellant had received an erroneous refund of Rs. 1,04,115/- merely because the refund was higher than the IGST calculated with reference to the FOB value is not sustainable.MoreLess
    At the filing before: The appeal was filed against the order that confirmed a demand of Rs. 1,04,115/- towards alleged excess refund of Integrated Goods and Services Tax (IGST) paid on export of goods during FY 2018-19, on the basis that the refund was claimed on the CIF (Cost, Insurance and Freight) value instead of the FOB (Free on Board) value.MoreLess
  • Tax disputeSuperitendent, Range V, Verna South, Division VI, GoaSince 9 Sep 2026
    Order dropping proceedings initiated against the Company for FY 2022-23 at Goa.
    At the filing before: 1: Excess availment of ITC (GSTR-3B vs GSTR-2B): IGST Rs.13,14,78,604 & CGST - Rs.73,52,852 & SGST - Rs.73,52,852 2: Non-Payment of tax in Cash (1% of total liability) under Rule 86B amounting to Rs. 51,37,057 3: Excess ITC claimed on Import of Goods in GSTR-3B as compared to GSTR-2B:Rs.1,27,81,973 4: Availment of block credit amounting to Rs. 11,50,096.MoreLess
  • Tax disputeAssistant Commissioner (CGST), VadodaraSince 17 Sep 2026
    Writ Petition filed on 19 August 2026. Order issued by the Gujarat High Court wherein Department agreed to issue refund by crediting company's GST Ledger which can be utilsed against our GST liability. Refund of pre-deposit (in Bank account / E-Credit Ledger on GSTN portal)paid for the excise appeal no. E/11519/2019 wherein favourable order has been received.MoreLess
    At the filing before: Assistant Commissioner (CGST), Vadodara, has issued refund order for the periods covered between April 2014 till June 2017, as applicable, accepting company’s submissions partially and granting refund of INR 5,207,841 comprising of principal refund of INR 3,396,705 and interest of INR 1,811,136. However, the officer has not accepted refund claim of INR 1,162,853MoreLess
1 more
  • Tax disputeJoint Commissioner, State Tax, Circle-Rajapark, Jaipur-II, Government of RajasthanSince 28 Sep 2026
    Order dropping proceedings initiated under Section 61 of the CGST Act, 2017 / RGST Act, 2017 read with Rule 99(2) of the CGST Rules, 2017 (Order Ref. No. ZD080926090905P)
    At the filing before: Notice in FORM GST ASMT-10 dated July 14, 2025 alleged a discrepancy between ITC availed in GSTR-3B and ITC reflected in GSTR-2B for FY 2022-23 (April 2022 – March 2023), amounting to ₹9,65,504 (CGST ₹4,82,752 + SGST ₹4,82,752)MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Dec 2024.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.